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Acquisitions | 6 Months Ended
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Jul. 03, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Acquisitions | ACQUISITIONS On February 2, 2026, the Company acquired all of the equity of Versah LLC and its wholly owned subsidiaries (collectively, “Versah”) for total cash consideration of approximately $54.7 million, subject to certain customary closing adjustments. Versah is known for its innovative Densah® Burs, which enable the Osseodensification technique — a procedure that compacts and autografts bone. This acquisition is part of the Company’s Specialty Products & Technologies segment. The Company makes an initial allocation of the purchase price at the date of acquisition based upon its understanding of the fair value of the acquired assets and assumed liabilities. The Company obtains this information during due diligence and through other sources. For those assets and liabilities that were accounted for on a preliminary basis, the Company may refine the estimates of fair value and more accurately allocate the purchase price. Only items that existed as of the acquisition date are considered for subsequent adjustment to the purchase price. The following table summarizes the fair values of the assets acquired and liabilities assumed for the Versah acquisition as of the acquisition date ($ in millions):
| February 2, 2026
Assets acquired: |
Cash | $ | 0.1 |
Accounts receivable | 0.8
Inventories | 3.3
Intangible assets | 31.6
Prepaid expense & other assets | 0.2
Goodwill | 20.9
Other noncurrent assets | 0.9
Total Assets | 57.8 |
Liabilities assumed: |
Accounts payable and accrued expenses | 3.1
Total liabilities assumed | 3.1
Total net assets acquired | $ | 54.7 |
The intangible assets acquired consist of developed technology, customer relationships, and trade name. The weighted average amortization period of the acquired intangible assets in the aggregate is 10 years. The excess of the purchase price over the fair value assigned to the assets acquired and liabilities assumed represents the goodwill resulting from the acquisition. Goodwill attributable to the acquisition has been recorded as a non-current asset and is not amortized, but is subject to review at least on an annual basis for impairment. Goodwill recognized was primarily attributable to expected operating efficiencies and expansion opportunities in the business acquired. The amount allocated to goodwill will be deductible for income tax purposes. The pro forma impact of the acquisition is not presented as the acquisition was not considered material to the Company’s Condensed Consolidated Financial Statements. For the six months ended July 3, 2026, legal, accounting, and other professional service costs associated with the acquisition of Versah were $0.3 million and have been recorded as selling, general and administrative expense in the Condensed Consolidated Statements of Operations.

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